On the 12th December 2013 Terrain Energy received notification from the Bavarian Ministry for the Economy, Infrastructure, Transport and Technology that it had been granted 100% of the Bruckmühl and Starnberger See oil and gas exploration licences which are located to the south and southwest of Munich in the Molasse Basin.
Exploration and production in the area occurred primarily in the 1960s through the 1980s. A number of gas and oil fields were discovered in sandstones of Lower Cretaceous to Tertiary age and there are potentially deeper and shallower reservoirs. Companies pulled out of the area following the oil price crash of 1986 and with the difficulty and expense of accessing seismic, well and production data the area has remained relatively under-explored.
The licences cover an interesting area from a technical standpoint in that there appears to be pervasive hydrocarbon charge, multiple good quality proven reservoirs and relatively simple structural traps.
Terrain is planning a 2D seismic acquisition programme over the two licences in 2014 with the possibility of drilling an exploration well in 2015 should the seismic identify suitable prospects.
Terrain Energy is an oil and gas exploration and production company that owns interests in nine licences onshore in the UK and Germany. Terrain is wholly owned by funds under the management or advice of Calculus Capital.